Dec 30, 2012 3:00am PST
morning, d.c. dark there now, but waky, waky our elected leaders. you have only two days ahead of you before that fiscal cliff deadline. hope you're well rested and fed and dugout from the snow storm yesterday because the clock is ticking down on 2012 and to that deline for avoiding the fiscal cliff, but after weeks of negotiations, patience is running short. here's president obama after his meeting with top political leaders on friday. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is in this town for some reason you can't get stuff done in an organized timetable. why everything always has to wait until last minute. well, we're now at the last minute. the american people are not going to have any patience for a politically self-inflicted wound to our economy. >> and he apparently wasn't kidding. we put out a call for our cnn ireporters to send us their messages to washington and, yes, we got a ton of responses. quite a few of you were frustrate would the lack of action in washingto
Dec 29, 2012 4:00am PST
the disagreements. the notion that our elected leadership can't do the same thing is mind boggling to them. it needs to stop. >> in washington, i'm stacy cohan. >> uncertainty over the fiscal cliff is having a ripple effect from washington to wall street. u.s. stocks ended the session on friday in the red for the fifth straight day. a triple digit loss for the dow which tumbled 158 points, the nasdaq lost almost 26 points. the s&p 500 shed almost 16 points. and the gridlock in washington could help the current congress make history as the most unproductive ever. it's amazing. a review by the huffington post shows 219 bills have been passed this session, that's compared to 383 bills passed by the previous congress, and 460 by the group before that. now, to avoid the distinction, congress needs to submit about 100 bills to president obama over the next few days. something tells me they're not going to be able to do that. but there is one thing the senate has been able to agree on, getting aid to victims of superstorm sandy. by a 61-33 vote, the chamber passed the measure offering $60 billion in help.
Dec 29, 2012 3:00am PST
of our lungs by it, but we were drowned out by the election. it seems common sense and good governance often get drown out by seemingly endless and continuele lesing elections in . we will be watching these developments play out over the weekend as congress is set to convene sunday evening. but as you know, alison, you've been saying, the markets may put pressure on lawmakers to act on monday. stocks were weak toward the end of the week as investors wanted no part of this uncertainty, especially going into the new year. i'll be hosting a special edition of "your money," in a few hours to bring you up to speed on what you need to know as we watch this faceoff unfold. alison, back to you. >> thanks, ali velshi. how will the markets and small businesses react if we do go off the cliff? in an hour, i'm going to ask a former economic council member under george w. bush about the future of our economy. >>> meanwhile, india's capital is on lockdown right now. new delhi and other cities brace for unrest and protest after a young woman brutally gang raped dies. we have a live report from new de